Agriculture centric deeptech startup Ecozen, with a strong focus on climate, has successfully secured $30 million in funding. This funding round consisted of a combination of debt and equity, with contributions from Nuveen Global Fund, existing equity investors, and new debt support from InCred Credit Fund and International Development Finance Corporation (IDFC).

In January of the previous year, the Pune-based startup successfully obtained a funding of $25 million, with Nuveen leading the investment. To date, the company has managed to accumulate approximately $70 million through a combination of debt and equity.

Ecozen provides innovative deep tech solutions focused on sustainability, with key technology components such as motor controls, IoT, and energy storage that harness the power of solar energy. Their product lineup includes Ecotron and Ecofrost.

The organization asserts that it has expanded by five times in the past two years, with profits increasing by three times. Ecozen foresees doubling its revenue in the ongoing fiscal year, and intends to utilize its sophisticated technology infrastructure to venture into new markets.

Ecozen further emphasized that its solutions will effectively reduce carbon emissions in various sectors such as milling, mobility, retail, and industry. This is similar to the positive impact the company's pumping and cooling solutions had on the agriculture sector.

According to startup data intelligence platform TheKredible, Ecozen experienced a significant increase in revenue, with a surge of 139% to Rs 293.24 crore in FY23 from Rs 122.57 crore in FY22. The majority of its revenue, 90%, came from the sale of solar and related products in the fiscal year ending March 2023. Additionally, the company achieved profitability, generating profits of Rs 5.76 crore in FY23, a stark contrast to the loss of Rs 37 lakh in FY22. As of now, Ecozen has not yet submitted its annual report for FY24.